Omaha daily bee., 1887-09-25
WEEKLY BUSINESS REVIEW.
Local Financial Affairs Attract Little
More Attention.
INCREASED DEMAND FOR MONEY
Bankers Report Rates of Interest
Firmer and Higher-Graln Stocks
Small-Western Packing Pro.
Rressing Favorably.
INCREASED DEMAND FOR MONEY
In the Commercial World.

In the Commercial World.
CHICAGO, Sept A.-lSpecial Telegram to
the BEE. Local financial affairs attracted
little more attention during the past week.
Bankers as rule reported an increased de-
mand for money, and the market showed Q
title tendency to c0seness. Yet parties who
are In good repute with banks succeeded In
obtaining such accommodations as they re-
qulred. A good supply of loanable funds arc
in the hands OF managers of leading tinan-
cial institutions, but the approach of the
winter packing season, when manufacturers
of hog products require some assistance
financially, and the constant flow of currency
to the country for the movement of grain and
live stock to market, leads to considerable
conservatism in the disposal of money
at their command. Spectators were moder.
ate borrowers and the amount of paper
from this source was somewhat enlarged dur
ing the week. Shippers of grain and pro-
visions presented very little paper for dis
count Merchants In the wholesale trade in4
creased their demands and leading houses
were readily accommodated. Lumber deal
| ers were moderate borrowers on short date
| paper. Some outside paper was offered on
| the market, backed by good colaterals and
| slort dates were accepted at rates averaging
| 8 per cent. Rates of interest were irmer and
| higher, ranging at 69616 per cent on call and
accepted at less than Z per cent Money at
| eastern financial centers is extremely close
and interest rates are firm at 506 per cent.
1.i9es Adyices from from foreign markets Indicated .
rates Of interest. New York exchange
was dull and dragging throughout the week
very large and the demand was moderate.
Sales between banks were made at 5O(67O
cents discount per $1,000, and the market
closed quiet at 70 cents discount. Foreign
during the past week, though the aggregate
business was light. Shippers sixty days
documentary bills on London changed hands
at r. 7st94;Isx and closed rather duh at
S47Sl@+. 7S1S. Offerings were quite large
chase of stocks at New York.
More life vas manifested in the New York
stock market during the week just closed:
to trade with considerable freedom,
though mainly in the way of accepting
small losses, or profits. Foreign operators
were liberal buyers Of some Of the leading
have traded more freely than for several
weeks past and were credited with making
fair profits In their operations. The market
was considerably unsettled and prices very
irregular and averaged lower for leading
properties. Sales on the New York stock
exchange for the week aggregated z. l9l ,9ld
| SnaTeS. OH Cne CnlCdRO SCOCk exCnAuKe uuI-
ing the week. there was more inclination to
trade and prices closely followed the New
York quotations.
More life was manifested in the leading
produce markets, and speculative trading
was larger than for several weeks past.
Wheat, corn and provisions especially at
tracted more attention, and on two or three
days activity exhibited reminded operators
of the exciting times in speculative circles q
few years ago. There appeared to be more
trading in large quantities; both by local and
outside operators, and the impression is
gaining ground that an active speculative
movement Is about to be inaugurated and
trade revived materially.
Stocks OF grain are not large In fact they
have been reduced so they can be easily han
died by leading operators, and moderate sup.
plies tend to make spectators on the "shOrt'
side quite guarded In their transactions.
Quick turns have been the rule in very many
cases. Prices exhibited no very marked
changes and fluctuations have been confined
within moderate range. Foreign advices
! have shown more steadlness, with higher
prices for some articles, but orders from
, merchants abroad have been limited and in
J most instances below the views of sellers
Receipts of grain have been moderately free
at all western markets and shipments u
eastern and foreign markets were quite lib
eral.
Provisions have shown some weakness in
view OF the liberal supply of hogs and the
decline in corn, but at the same time stocks
ments to domestic and foreign markets
and the decrease for the season Is very
| irht